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Showing posts from September 22, 2018

China’s BRI is unlikely to fail

B. R. Deepak Updated : September 23, 2018, 6:12 AM File photo of leaders attending the Belt and Road Forum waving at the Yanqi Lake venue on the outskirts of Beijing, China on 15 May 2017. REUTERS India and China need to work out modalities for strengthening and deepening cooperation.   The Belt and Road Initiative (BRI) completed five years on 7 September 2018. It was on this day that the concept was first proposed by Chinese President Xi Jinping during his speech at the Nazarbayev University, Kazakhstan. A month later, he proposed the 21st century Maritime Silk Road, which envisages the building of hard and soft infrastructure, from the Indo-Pacific to Africa, including transport, energy, water management, communication, earth monitoring, economic and social infrastructure, thus turning the concept into a “Belt and Road” formulation. In 2015, during the Bo’ao Forum for Asia in Sanya, Hainan, China rolled out an action plan that enunciated five major goals of the vision in term

China, Guyana vow more cooperation under Belt and Road Initiative

Updated 2018-09-23 12:05 GMT+8 CGTN ‍China and Guyana pledged more cooperation under Beijing-proposed Belt and Road Initiative, as Chinese Foreign Minister and State Councilor Wang Yi was visiting the Caribbean country on Saturday. Wang held talks with Guyana's President David Granger. China and Guyana established diplomatic ties in June 1972. Granger said Guyana is the first English-speaking Caribbean country that built ties with China and the two countries have since enjoyed a long-term and close friendship. The bilateral trade reached over 227 million US dollars in 2017, as per China Custom. Guyana joined Beijing-proposed Belt and Road Initiative in July 2018. Granger said his country seeks more collaboration with China under the framework. Chinese Foreign Minister and State Councilor Wang Yi held talks with Guyana's President David Granger at State House, Georgetown, Guyana, September 22, 2018. /Chinese Foreign Ministry Photo) The plan will not only benefit Guyan

Possible China-Japan maritime crisis threatens ‘Belt and Road’ initiative, internal PLA document says

China's first indigenous aircraft carrier lifts anchor in Dalian, in the northeastern province of Liaoning, on May 13. | AP KYODO SEP 23, 2018 TAIPEI – A military crisis at sea between China and Japan will seriously undermine Beijing’s path of peaceful development and its “Belt and Road” initiative, according to an internal magazine of the People’s Liberation Army (PLA) obtained by Kyodo News. The article, authored by two military officers at the Naval Military Research Institute and Dalian Naval Academy, strongly suggests that the likelihood of a military crisis between China and Japan on the sea is increasing due to long-standing disputes over the sovereignty of the Senkaku Islands, maritime demarcation in the East China Sea and development of maritime resources in the area. While China and Japan are working toward improving bilateral relations, the article, which appeared in the April 2017 issue of the magazine, warns that a slight misjudgment of the above issues could eas

Why China can’t win the world with easy money

September 23, 2018, 2:00 AM IST  SA Aiyar  in  Swaminomics   |   Business ,  World   |  TOI   Indian politicians and diplomats fear China’s Belt and Road Initiative (BRI), which aims to finance and build massive infrastructure projects in 78 countries, controlling infrastructure running through Asia and Europe. China believes this will help it dominate the 21st century. Asia needs a lot of infrastructure. India itself is a partner with China in the New Development Bank and Asia Infrastructure Investment Bank. But BRI is far more ambitious, planning giant projects. Many are turning into white elephants. This is sparking a financial drama in Pakistan. In worst-case scenarios, BRI will become a debt trap for borrowers who cannot repay Chinese loans. Indian diplomats fear this debt trap will make borrowers Chinese puppets, or at least give China strategic footholds (like naval bases) in these countries. Maybe so, but I suspect most borrowers will turn against an overweening China, no

'Saudi induction in CPEC could build new trade troika'

  Observers see proposed Saudi induction in China-Pakistan Economic Corridor project weakening opposition by US, India 22.09.2018   Ekip    Ankara     By Aamir Latif  KARACHI, Pakistan The proposed induction of Saudi Arabia in the multibillion-dollar China Pakistan Economic Corridor (CPEC) would not only boost trilateral trade but could also serve to weaken U.S. and Indian opposition to the project, according to experts and analysts. Islamabad last week announced that it had invited the oil-rich kingdom to join the CPEC as a third partner to bring a “huge” investment to cash-strapped Pakistan. Though the government has not revealed the volume of the investment Riyadh has promised, local media, citing anonymous officials, reported that the kingdom is going to invest $10 billion for construction of an oil city at the strategic port of Gawadar. The development follows Prime Minister Imran Khan's two-day visit to the kingdom, and powerful army chief Gen Qamar Javed Bajwa’s sim

Captain among seven soldiers martyred in NW clash

MIRANSHAH: As many as seven soldiers, including an army captain, were martyred while three others sustained injuries in a clash with militants in Sarodana village of Dattakhel tehsil in North Waziristan tribal district on Saturday. According to security officials, the clash took place during a search operation near the border with Afghanistan. They said the security forces were undertaking a search operation when the terrorists opened fire on them and that led to heavy exchange of fire. The security officials said 10 terrorists were also killed in the exchange of fire and their hideouts were dismantled. They said that seven security personnel embraced martyrdom while three others suffered bullet injuries. The injured soldiers were shifted to the Combined Military Hospital in Miranshah. The martyred soldiers were identified as Captain Junaid, Havaldars Asif, Raziq, Ameer Wali and Nasir, and Sepoy Anwar Jan and Sepoy Samiullah. The injured soldiers included Subedar Khursheed, Naib Sub